Market in a Minute

Market in a Minute & StatPak February 2018

We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability and direction of the market - in an easy to read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Northern Virginia, Loudoun County, Washington, DC, Montgomery County and Prince George’s County.

A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.

What's The URGENCY Index?

This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.

Northern Virginia - February 2018 StatPak with Contract Snapshot from January 2017

CONTRACTS:Contract activity in January 2018 was down 3.2% from January 2017, but there was an increase in three of six price categories. The average number of days on the market for homes receiving contracts was 61 days in January 2018, down from 66 days in January of last year.

Loudoun County - February 2018 StatPak with Contract Snapshot from January 2017

CONTRACTS:Contract activity in January 2018 was down just 2.0% from January 2017, but that is entirely because of a considerable drop in homes priced less than $300,000. All other price categories had increases. The average number of days on the market for homes receiving contracts was 56 days in January 2018, down from 62 days in January of last year.

Montgomery County - February 2018 StatPak with Contract Snapshot from January 2017

CONTRACTS:Contract activity in January 2018 was down 9.6% from January 2017, and there were decreases in five of the six price categories. The average number of days on the market for homes receiving contracts was 65 days in January 2018, down from 69 days in January of last year.

Prince George's County - February 2018 StatPak with Contract Snapshot from January 2017

CONTRACTS:Contract activity in January 2018 was up 20.9% from January 2017, and there were increases in all four of the price categories with activity. That increase was by far the best in the metro area. The average number of days on the market for homes receiving contracts was 53 days in January 2018, exactly the same as this time last year.

Washington, DC - February 2018 StatPak with Contract Snapshot from January 2017

CONTRACTS:Contract activity in January 2018 was up 9.0% from January 2017, and there were increases in three of the six price categories and two were unchanged. The average number of days on the market for homes receiving contracts was 48 days in January 2018, up from 45 days in January of last year.